Current Affairs - Economy - Discussion

India’s automobile sector experienced record growth in the fiscal year 2023-24, with total vehicle production reaching 28 million units. This surge in production reflects India’s transformation into a global manufacturing hub, particularly in the electric vehicle (EV) segment. The growth is attributed to the ‘Make in India’ initiative, which has significantly boosted domestic manufacturing, foreign direct investments (FDI), and exports. This milestone underscores India’s strategic push to strengthen its automotive industry, contributing to economic growth and employment generation.